NEW YORK ( TheStreet) -- The Dow Chemical Company (NYSE: DOW) hit a new 52-week high Friday as it traded at $38.89 compared with its previous 52-Week high of $38.82. The Dow Chemical is changing hands at $38.88 with 2.5 million shares traded as of 11:21 a.m. ET. Average volume has been 6.9 million shares over the past 30 days. The Dow Chemical has a market cap of $44.5 billion and is part of the basic materials sector and chemicals industry. Shares are up 12.2% year to date as of the close of trading on Thursday.

The Dow Chemical Company engages in the manufacture and sale of chemicals, plastic materials, agricultural, and other products and services worldwide. The company has a P/E ratio of 22.1, below the average chemicals industry P/E ratio of 26.6 and below the S&P 500 P/E ratio of 23.4.

TheStreet Ratings rates The Dow Chemical as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and reasonable valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full The Dow Chemical Ratings Report.

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